Submission for OMB Review; Comment Request; Extension: Rule 17a-25, 50361 [2022-17527]

Download as PDF Federal Register / Vol. 87, No. 157 / Tuesday, August 16, 2022 / Notices analysis, and conditions, please refer to Applicants’ first amended and restated application, dated July 20, 2022, which may be obtained via the Commission’s website by searching for the file number at the top of this document, or for an Applicant using the Company name search field, on the SEC’s EDGAR system. The SEC’s EDGAR system may be searched at, https://www.sec.gov/ edgar/searchedgar/legacy/ companysearch.html. You may also call the SEC’s Public Reference Room at (202) 551–8090. For the Commission, by the Division of Investment Management, under delegated authority. J. Matthew DeLesDernier, Deputy Secretary. [FR Doc. 2022–17524 Filed 8–15–22; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [SEC File No. 270–482, OMB Control No. 3235–0540] lotter on DSK11XQN23PROD with NOTICES1 Submission for OMB Review; Comment Request; Extension: Rule 17a–25 Upon Written Request Copies Available From: Securities and Exchange Commission, Office of FOIA Services, 100 F Street NE, Washington, DC 20549–2736 Notice is hereby given that pursuant to the Paperwork Reduction Act of 1995 (44 U.S.C. 3501 et seq.) (‘‘PRA’’), the Securities and Exchange Commission (‘‘Commission’’) has submitted to the Office of Management and Budget (‘‘OMB’’) a request for approval of extension of the existing collection of information provided for in Rule 17a–25 (17 CFR 204.17a–25) under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.). Paragraph (a)(1) of Rule 17a–25 requires registered broker-dealers to electronically submit securities transaction information, including identifiers for prime brokerage arrangements, average price accounts, and depository institutions, in a standardized format when requested by the Commission staff. In addition, Paragraph (c) of Rule 17a–25 requires broker-dealers to submit, and keep current, contact person information for electronic blue sheets (‘‘EBS’’) requests. The Commission uses the information for enforcement inquiries or investigations and trading reconstructions, as well as for inspections and examinations. VerDate Sep<11>2014 18:35 Aug 15, 2022 Jkt 256001 The Commission estimates that it sends approximately 13,558 electronic blue sheet requests per year to clearing broker-dealers that in turn submit an average 223,057 responses.1 It is estimated that each broker-dealer that responds electronically will take 8 minutes, and each broker-dealer that responds manually will take 11⁄2 hours to prepare and submit the securities trading data requested by the Commission. The annual aggregate hour burden for electronic and manual response firms is estimated to be 29,924 (223,057 × 8 ÷ 60 = 29,741 hours) + (122 × 1.5 = 183 hours), respectively.2 An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information under the PRA unless it displays a currently valid OMB control number. The public may view background documentation for this information collection at the following website: www.reginfo.gov. Find this particular information collection by selecting ‘‘Currently under 30-day Review—Open for Public Comments’’ or by using the search function. Written comments and recommendations for the proposed information collection should be sent by September 15, 2022 to (i) MBX.OMB.OIRA.SEC_desk_officer@ omb.eop.gov and (ii) David Bottom, Director/Chief Information Officer, Securities and Exchange Commission, c/o John Pezzullo, 100 F Street NE, Washington, DC 20549, or by sending an email to: PRA_Mailbox@sec.gov. Dated: August 10, 2022. J. Matthew DeLesDernier, Deputy Secretary. [FR Doc. 2022–17527 Filed 8–15–22; 8:45 am] BILLING CODE 8011–01–P 1 A single EBS request has a unique number assigned to each request (e.g., ’’0900001’’). However, the number of broker-dealer responses generated from one EBS request can range from one to several thousand. EBS requests are sent directly to clearing firms, as the clearing firm is the repository for trading data for securities transactions information provided by the clearing firm and the correspondent firms. Clearing brokers respond for themselves and other firms they clear for. There were 446,113 responses during the 24month period, for an average of 223,057 annual responses. 2 Few respondents submit manual EBS responses. The small percentage of respondents that submit manual responses do so by hand, via email, spreadsheet, disk, or other electronic media. Thus, the number of manual submissions (approximately 122 per year) has minimal effect on the total annual burden hours. PO 00000 Frm 00077 Fmt 4703 Sfmt 4703 50361 SECURITIES AND EXCHANGE COMMISSION [SEC File No. 270–507, OMB Control No. 3235–0563] Submission for OMB Review; Comment Request; Extension: Rule 17a–10 Upon Written Request, Copies Available From: Securities and Exchange Commission, Office of FOIA Services, 100 F Street NE, Washington, DC 20549–2736. Notice is hereby given that pursuant to the Paperwork Reduction Act of 1995 (44 U.S.C. 3501 et seq.) (‘‘PRA’’) the Securities and Exchange Commission (‘‘Commission’’) has submitted to the Office of Management and Budget (‘‘OMB’’) a request for extension of the previously approved collection of information discussed below. Section 17(a) of the Investment Company Act of 1940 (15 U.S.C. 80a–1 et seq.) (the ‘‘Act’’), generally prohibits affiliated persons of a registered investment company (‘‘fund’’) from borrowing money or other property from, or selling or buying securities or other property to or from, the fund or any company that the fund controls.1 Section 2(a)(3) of the Act defines ‘‘affiliated person’’ of a fund to include its investment advisers.2 Rule 17a–10 (17 CFR 270.17a–10) permits (i) a subadviser 3 of a fund to enter into transactions with funds the subadviser does not advise but that are affiliated persons of a fund that it does advise (e.g., other funds in the fund complex), and (ii) a subadviser (and its affiliated persons) to enter into transactions and arrangements with funds the subadviser does advise, but only with respect to discrete portions of the subadvised fund for which the subadviser does not provide investment advice. To qualify for the exemptions in rule 17a–10, the subadvisory relationship must be the sole reason why section 17(a) prohibits the transaction. In addition, the advisory contracts of the subadviser entering into the transaction, and any subadviser that is advising the purchasing portion of the fund, must prohibit the subadvisers from consulting with each other concerning securities transactions of the fund, and limit their responsibility to providing advice with respect to discrete portions of the fund’s portfolio.4 This requirement regarding 1 15 U.S.C. 80a–17(a). U.S.C. 80a–2(a)(3)(E). 3 As defined in rule 17a–10(b)(2). 17 CFR 270.17a–10(b)(2). 4 17 CFR 270.17a–10(a)(2). 2 15 E:\FR\FM\16AUN1.SGM 16AUN1

Agencies

[Federal Register Volume 87, Number 157 (Tuesday, August 16, 2022)]
[Notices]
[Page 50361]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-17527]


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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-482, OMB Control No. 3235-0540]


Submission for OMB Review; Comment Request; Extension: Rule 17a-
25

Upon Written Request Copies Available From: Securities and Exchange 
Commission, Office of FOIA Services, 100 F Street NE, Washington, DC 
20549-2736

    Notice is hereby given that pursuant to the Paperwork Reduction Act 
of 1995 (44 U.S.C. 3501 et seq.) (``PRA''), the Securities and Exchange 
Commission (``Commission'') has submitted to the Office of Management 
and Budget (``OMB'') a request for approval of extension of the 
existing collection of information provided for in Rule 17a-25 (17 CFR 
204.17a-25) under the Securities Exchange Act of 1934 (15 U.S.C. 78a et 
seq.).
    Paragraph (a)(1) of Rule 17a-25 requires registered broker-dealers 
to electronically submit securities transaction information, including 
identifiers for prime brokerage arrangements, average price accounts, 
and depository institutions, in a standardized format when requested by 
the Commission staff. In addition, Paragraph (c) of Rule 17a-25 
requires broker-dealers to submit, and keep current, contact person 
information for electronic blue sheets (``EBS'') requests. The 
Commission uses the information for enforcement inquiries or 
investigations and trading reconstructions, as well as for inspections 
and examinations.
    The Commission estimates that it sends approximately 13,558 
electronic blue sheet requests per year to clearing broker-dealers that 
in turn submit an average 223,057 responses.\1\ It is estimated that 
each broker-dealer that responds electronically will take 8 minutes, 
and each broker-dealer that responds manually will take 1\1/2\ hours to 
prepare and submit the securities trading data requested by the 
Commission. The annual aggregate hour burden for electronic and manual 
response firms is estimated to be 29,924 (223,057 x 8 / 60 = 29,741 
hours) + (122 x 1.5 = 183 hours), respectively.\2\
---------------------------------------------------------------------------

    \1\ A single EBS request has a unique number assigned to each 
request (e.g., ''0900001''). However, the number of broker-dealer 
responses generated from one EBS request can range from one to 
several thousand. EBS requests are sent directly to clearing firms, 
as the clearing firm is the repository for trading data for 
securities transactions information provided by the clearing firm 
and the correspondent firms. Clearing brokers respond for themselves 
and other firms they clear for. There were 446,113 responses during 
the 24-month period, for an average of 223,057 annual responses.
    \2\ Few respondents submit manual EBS responses. The small 
percentage of respondents that submit manual responses do so by 
hand, via email, spreadsheet, disk, or other electronic media. Thus, 
the number of manual submissions (approximately 122 per year) has 
minimal effect on the total annual burden hours.
---------------------------------------------------------------------------

    An agency may not conduct or sponsor, and a person is not required 
to respond to, a collection of information under the PRA unless it 
displays a currently valid OMB control number.
    The public may view background documentation for this information 
collection at the following website: www.reginfo.gov. Find this 
particular information collection by selecting ``Currently under 30-day 
Review--Open for Public Comments'' or by using the search function. 
Written comments and recommendations for the proposed information 
collection should be sent by September 15, 2022 to (i) 
[email protected] and (ii) David Bottom, 
Director/Chief Information Officer, Securities and Exchange Commission, 
c/o John Pezzullo, 100 F Street NE, Washington, DC 20549, or by sending 
an email to: [email protected].

    Dated: August 10, 2022.
J. Matthew DeLesDernier,
Deputy Secretary.
[FR Doc. 2022-17527 Filed 8-15-22; 8:45 am]
BILLING CODE 8011-01-P
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